ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Stabilisation with Structural Reforms-Can the Two be Pursued Simultaneously

Can the Two be Pursued Simultaneously? Nirupam Bajpai Developing countries are undertaking structural reforms in the midst of macro-economic instability. While most of the discussions on economic reform see growth as more or less an assured product of appropriate stabilisation and reform policies, this paper argues that simultaneous attempts toward stabilisation and economic liberalisation may lead neither to macro stability nor to the restoration of sustainable growth. In fact, the objective of stabilisation is in conflict with the objective of re-igniting growth in the economy.

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